Word: mergers
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Dates: during 1990-1999
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Most recently, Allen bigfooted Walter out of the way to explore a merger with SBC Communications, Inc., the largest of the regional Bells. The talks collapsed amid unofficial hints from FCC chairman Reed Hundt on the order of "Are you nuts...
...allies. His extensive meetings with AT&T employees and corporate clients buttressed morale, as did his promotion of several insiders. But along the way, Walter lost sight of the only constituency that mattered: Allen. Last April after Walter, not Allen, got the call from SBC's chairman proposing merger talks, Allen escalated his criticism, telling AT&T directors that Walter didn't grasp the complexities of the telecom business. By the time Walter faced the board to defend himself, its decision had been made...
...when Scott acquired his firm, said the company will cooperate fully with the government's probe. Frist confirmed that Columbia's board forced the change, angered by the surprise federal searches and concerned that its business and reputation were being damaged by the probes as it mulled a major merger. "Rick Scott and David Vandewater have done a fabulous job in putting this group of assets together," said Frist. "They were the right people. But in any institution there is a time for a different style . . . It might have been an impediment if they had stayed." Wall Street responded favorably...
SEATTLE: While Boeing awaits the final word from Europe on its proposed swallowing of aerospace rival McDonnell Douglas Corp., the company's owners are fully behind the deal. At a Seattle meeting of Boeing shareholders, the $15 billion merger was approved by slightly more than 99 percent. The holdout? James S. McDonnell III, a company director and descendant of its founder, who is voting his personal shares against the marriage as a protest against Boeing's refusal so far to include "McDonnell Douglas" in the merged company's name...
...Calling his approval preliminary, EU antitrust chief Karel Van Miert said more time was needed to read the fine print of Boeing's offers before a formal go-ahead is issued. A green light is expected as early as next week. While the Europeans could not have blocked the merger, they could have prevented Boeing from setting up shop anywhere in the soon-to-be-enlarged Union, or fined the aviation giant as much as $4.8 billion if it went ahead with the merger without community approval...